ACCOUNTING
Bookkeeping and Payroll – A small business needs the time and flexibility to pay attention to its clients. Handling payroll and routine bookkeeping can be more time consuming and confusing than a business owner needs, particularly in the first several years of operations. We can relieve you of that burden and assure that your books are up-to-date and accurate. Additionally, we will ensure that payroll reports are prepared and filed when required. This allows you to concentrate on the business of your business.
Compilation – We would take your financial information and assemble it into a financial statement, usually a balance sheet, income statement, statement of cash flow and perhaps notes to the statements. Other than assembling the information into a financial statement, no level of assurance on the statements themselves is offered. Standards for compilations are established by the American Institute of Certified Public Accountants.
Review – A review is a step up from a compilation, but is not as in-depth as an audit. A limited amount of review work is completed on the financial information in the statements and notes, but is substantially less than the amount of work required for a complete audit. Our report would indicate whether the statements are in compliance with GAAP (generally accepted accounting principles). The American Institute of Certified Public Accountants establishes standards for reviews.
Audit – An audit is the highest level of service that can be provided. We must give our opinion on the fairness of the financial statements. As would be expected, an audit requires much more time to complete than other levels of service. Auditing standards and requirements are established by the American Institute of Certified Public Accountants, and increasingly, by governmental agencies and legislation.
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